Taylors Pond Property - Newfoundland and Labrador
The Taylor’s Pond property is situated in mining friendly Newfoundland & Labrador; The property has excellent access and local infrastructure. The land package includes 49 claims contained in three recent map staked claim licenses covering 1150 hectares. It can be expanded by new staking.
The property is located approximately 20 kilometers south of navigable tidewater at White Bay on the northeast coast of Newfoundland. The town of Deer Lake, approximately one hour drive south and west of the property, offers excellent infrastructure including an international airport.
Numerous logging roads provide direct and easy access to most of the property from Route 420 an all weather highway that runs through the center of the property. 420 connects with the Trans-Canada Highway (TCH) approximately 50 kilometers south of the property. The port city of Corner Brook lies another 50 kilometers west along the TCH.
Abundant power is available through the provincial grid with a major hydroelectric generating station located within a few kilometers of the property.
The most recent gold occurrence (23.1 g/t Au) on the Taylor’s Pond property is the 420 gold zone. It was first discovered by field crew from Spruce Ridge Resources while following up a nearby 2004 sample that returned 7.74 g/t Au.
In 2009 a short grass root prospecting program was focused along a small portion of the valley - fault zone which runs roughly north south through the middle of the property. The most significant assay returned 23.1 g/t Au from an angular quartz veined granitic float - broken outcrop. Additional Au assays from the same area include: 7.74 g/t, 2.87 g/t, 1.99 g/t and 1.26 g/t gold.
The geology is similar to that found at nearby properties held by Spruce Ridge Resources (Ni 143,000 oz Au) and Kermode Resources (NI 495,000 oz Au)
The 420 gold zone has not been subjected to detailed systematic exploration effort and remains vastly underexplored. The prospect has not been stripped or drilled, and only very limited surface prospecting has been carried out to date.
We believe that the potential for further gold discovery is excellent.
The property is also host to a drill indicated Lead - Zinc prospect and an interesting surface exposed Uranium showing. The area of the claims was originally explored for Mississippe Valley Type Pb-Zn deposits, and in later years Uranium was discovered on the claims.
These additional occurrences and the new gold zone demostrate significant discovery potential and they add considerable value to the claims. To the right company, the Taylors Pond Property offers considerable upside with relatively low acquistion costs and limited risk.
The links below provide more information on these mineral prospects:
Determination Zone Uranium Showing - Read More
(Up to 5.5 Lbs/ton U3O8 (0.275%) in surface samples)
Side Pond Lead Zinc Propsect - Read More
(Intersections with 4.3 meters of 3.19% Pb and 7.3 meters of 1.91% Pb in diamond drilling)
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Newfoundland and Labrador was recently ranked among the top 10 exploration jurisdictions of the world by the Fraser Institute survey of mining companies
The Department of Natural resources continues to provide financial assistance programs to support and encourage mineral exploration in Newfoundland and Labrador.
The province is host to high quality metal, non-metal and industrial mineral products sold nationally and internationally. The latest forecast is that the total gross value of mineral shipments will be near $3.8 billion for 2014.